The best forex brokers should have, first of all, strong protection mechanisms for client accounts and deposits, followed by competitive pricing, and also, be highly rated by its customers.


  • Forex brokers supervised by a Tier-1 regulator offer more security to retail investors.
  • It’s also possible to trade other asset classes (i.e., shares and cryptocurrencies) with forex brokers.
  • ECN forex brokers have more competitive spreads, starting with 0.0 pip.
  • Leverage of European and Australian forex brokers is restricted to 30:1 for retail investors.

When you’re searching for the best forex broker, which of the following is more important to you? Where the broker is based? What’s the maximum leverage available? The range of tradable instruments?

Well, in fact, all these variables are important. So, to help you select one from the best forex brokers in 2023, we have prepared this page with all those key features, including how users rate their services, pricing and product offerings. After all, a forex broker happy customers (or not) opinions, might have a decisive impact on your choice.

In partnership with (part of our digital family), and using our own review methodology, we have also determined the current 5 best forex brokers in 2023, in no particular order, highlighting their main features: 

  • IC Markets broker
    IC MarketsECN trading platform with competitive spreads. Great customer support.
  • Tickmill broker
    TickmillSuper-fast withdrawals. Strong regulations in place. Efficient customer support.
  • XM broker
    XMOriginal loyalty points scheme. Fast deposits and withdrawals. Customer support in several languages.
  • FxPro broker
    FxProWell-regulated forex broker. Friendly customer support. Several types of trading platforms.
  • RoboForex broker
    RoboforexGreat for beginners. Multiple account types, including cent accounts. Fast withdrawals and deposits. Free VPS service.

Best Forex Brokers in 2023

IC Markets broker

IC Markets
Competitive Pricing

Key Features
  • Low spreads and commissions
  • Fast execution speeds and low latency times
  • Regulated in the EU, Australia and Seychelles
  • High customer ratings

IC Markets is an Australian forex broker, incorporated in Sydney in 2007, by a team of professionals in the financial services industry, who were instrumental in the success of one of Australia’s largest CFDs and forex trading providers. The broker offers ECN environment trading solutions for active day traders, and scalpers as well as retail investors new to the forex market.

This excellent broker, regulated by Tier-1 Australia's ASIC, provides its clients with cutting-edge trading platforms, extremely low latency connectivity and superior liquidity. IC Markets is revolutionizing the on-line forex trading sector, as investors are now able to gain access to pricing and liquidity previously only available to investment banks and professional traders.

IC Markets mission is to create the best, and most transparent, trading environment for retail and institutional clients alike, allowing traders to focus more on their trading. Built by traders for traders, IC Markets is dedicated to offering competitive spreads, fast execution and a friendly customer support service.


  • Very competitive spreads
  • Fast trade execution
  • Multiple ways to fund accounts
  • Great range of educational materials
  • Non-expiring demo account


  • Slippage (both negative and positive) is very common
  • Customer support could be better
*data from IC Markets verified user reviews on

Tickmill broker

Excellent for Automated Trading

Key Features
  • Good overall trading costs
  • Fast execution speeds (ideal for EAs)
  • Regulated in the EU, the UK and Seychelles
  • High customer ratings

Tickmill, with headquarters in the UK, and regulated by the FCA, is a forex broker proposing a "new way" of trading, with extremely low market spreads and no-requotes, using STP and DMA trading models, with absolute transparency and the latest in trading technology.

This excellent broker has been built by traders for traders, with its team members trading experience going back to the 90’s, where they successfully traded on all major financial markets, from Asia to North America.

Tickmill is also highly rated by scalpers and traders using Expert Advisors and algorithmic trading systems, thanks to their lightning-fast execution speeds. These features, together with its team's strong experience on the financial markets, are the pillars of Tickmill's mission: provide a best FX trading environment and an overall trading experience.


  • Low trading commissions
  • Fast deposits and withdrawals via bank transfer
  • Super-fast trade execution
  • Strong regulations in place
  • Multi language customer support
  • Non-expiring demo account


  • No cryptocurrencies trading
  • No stocks trading
  • Trading can only be done via MT4
  • Min. deposit for VIP account is too high
*data from Tickmill verified user reviews on

XM broker

Attractive Non-Deposit Trading Bonus

Key Features
  • Trading with micro-lots available
  • No deposit trading bonus*
  • Regulated in the EU, the UK, Australia, Dubai and Belize
*Clients registered under the EU and ASIC regulated entities of the Group are not eligible for the bonuses

The XM Group is a registered mark of Trading Point of Financial Instruments Ltd, and part of a group of regulated online brokers.

The broker was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10). Later, in 2015, Trading Point of Financial Instruments Pty Ltd was established, and this branch is regulated by the Australian Securities and Investments Commission (ASIC 443670).

In 2017 the broker XM Global Limited was established and regulated by the Financial Services Commission.

XM clients benefit from direct access to the financial markets, with over 1,000 financial instruments available, including forex, stocks CFDs, precious metals CFDs, energies CFDs, commodities CFDs and equity indices CFDs.

Trading is done with transparent real-time pricing, coupled with low spreads and flexible leverage. It is XM's mission to provide clients, not only with a trading environment that excels, but also, all the necessary tools to enhance trading performance, including product innovation, several quality educational materials, and personalized customer service.


  • No deposit bonus
  • Great range of trading accounts
  • Over 1,000 financial instruments available
  • Friendly customer support
  • Regulated in several markets
  • Non-expiring demo account


  • No cryptocurrencies trading
  • No social trading options
  • Inactivity fee charged
*data from XM verified user reviews on

FxPro broker

Great Choice of Trading Platforms

Key Features
  • No fees for deposits & withdrawals
  • Four trading platforms
  • Regulated in the EU, the UK, the UAE, South Africa and Bahamas
  • Customer support in 19 languages

The FxPro Group Limited is a global company providing innovative online FX brokerage services, regulated in both the UK, by Tier-1 FCA, and in Cyprus by the CySEC. With an exceptional track record of profitable growth, FxPro’s core business is acting as the primary source to its global clients in FX trading.

FxPro provides its clients opportunities to trade also on major indices, commodities, metals and individual equities. The broker's client base primarily consists of retail investors, but it is increasingly servicing institutional partners as well, with transactions exclusively being executed online.

Due to its growth, FxPro’s client services are now available in more than 150 countries worldwide. The broker has made a combined effort over the last few years to make transparency not just a cornerstone of its business model, but also, to encourage it in the wider FX industry, as one of the leading brokers in the market.


  • Negative balance protection
  • Great range of trading platforms
  • True No Dealing Desk Execution broker
  • No fees on deposits & withdrawals
  • Regulated in several markets
  • Customer support in many languages


  • No cryptocurrencies trading
  • No social trading options
  • Only 260 assets to trade
  • cTrader commissions are high
  • Spreads are high
*data from FxPro verified user reviews on

RoboForex broker

Excellent Environment for Beginners

Key Features
  • No withdrawal & deposit fees
  • More than 12,000 trading assets
  • Cent accounts available (ideal for beginners)
  • Open account with 0 deposit

Established in 2009, RoboForex is a fast-expanding CFDs broker. According to their corporate website, RoboForex reached the mark of more than 2,000,000 trading accounts opened, in 2018. Compared to 2009, when the broker established its headquarters in Belize, and had 1,724 trading accounts, that is an impressive growth rate!

RoboForex provides customers and partners with quality and reliable brokerage services, using modern tools and technologies. RoboForex aims to satisfy the needs and wishes of their clients, and providing them with reliable and affordable services, with a personal and confidential approach.

The broker follows a hybrid forex business model, serving both as a market maker, as well as offering Market Execution (ECN/STP) as a Non-Dealing Desk broker. The broker is also very popular with traders for the variety of trading platforms on offer, including the R Trader platform, where traders can, even with minimal coding knowledge, create their own automated strategy trading robot.


  • Zero minimum deposit (except Prime & R Trader)
  • Great range of trading accounts (inc. cents)
  • Over 12,000 financial instruments available
  • 30+ funding methods
  • No fees on deposits & withdrawals
  • Non-expiring demo account


  • Frequent slippage
  • Spreads (ECN) are slightly high
  • Support can be slow at times
*data from RoboForex verified user reviews on

Extra Factors to Consider When Choosing a Broker

When choosing the best broker for your trading journey, it is important to consider what factors apply to you as a trader, and what the broker can offer you.

For example, are you a beginner, or do you have limited funds to start trading? Then the best option would be a forex broker offering great educational materials to help you build your knowledge, and a broker offering low (or zero) minimum deposits.

It can also be the case that you are a fan of cryptocurrencies and wish to trade on the huge volatility of these instruments. Luckily, almost every broker is now offering crypto trading on their portfolio of instruments. The factor to consider here will be which broker is the cheapest, as crypto trading, being a new market with less competition, represents an opportunity for brokers to apply huge spreads and hefty trading commissions.

With literally hundreds of forex brokers fighting to get your attention, and with so many offers and trading conditions, in the end what really matters is not what the brokers offer, but instead, what are your trading requirements and personal criteria.

Once you write down the key factors of your criteria, you will end up knocking out the volume and short-listing just a few brokers. We also suggest a quick visit to our article How to Find the Best Forex Broker: 7 Key Factors to Consider, where you can find a detailed explanation about the most important variables, to help you choose your next forex broker.